Searchlight Resources Inc (SCLTF)

[sweetpepperjam]

The statements below are just my thoughts & opinions. To each their own, but this is the way I see the company moving forward in 2012.

I believe we will start to see the company follow through with their phase I exploration program in February. I think we'll see an orchestrated effort to get the PPS up higher then where the last round of financing took place. Then they can seal another round of financing to get through phase II.

To get the PPS higher they will need to start checking the items off the list below. Then we will see a lot more interest coming in CNYC/CNC. As they progress along and get closer to the "Feasibility Study" the potential for a buy out strengthens. If no buy out, then they move right into production. Either way the PPS will be a lot higher then current levels.

It's my opinion with the age of the company's officers and their previous experience, that they are working towards becoming a buy out target of a larger company.

The approximate company asset value is $8-$10 Billion with a very realistic opportunity to double that with growing their resources on both properties.

1. Marketing campaign targeting brokerage houses in Canada.
2. 3-5 drill units on site.
3. Hiring of new geologist for site management.
4. Property reassessment of core samples for value.
Revise Longshot Ridge resource estimate incorporating re-assayed values of 2006 drill & systematic road cut samples.
5. Apply for permit to drill on & around Longshot Ridge & adjacent copper oxide targets.
5. Apply for permits to drill Copper Queen & Champion target areas.
5. Assess potentials of copper oxide systems similar to the Longshot Ridge at the nearby Power Line & Buffington mine workings.
5. Initiate further work on metallurgical testing & environmental base line studies for Longshot Ridge deposit.
5. Pre-feasibility study.
6. Feasibility study.
7. Production (not restricted by season changes).
8. US uplisting to AMEX.
9. Acquisition of neighboring properties w/ significant resources around existing site in near future. * COMPLETED *

ADVANCING THE PROJECT
EXPLORATION 2011 -2012

Phase I Exploration Program

The Company commenced phase I of its exploration program on the New York Canyon Project in July, 2011. The exploration program will involve the following:

•Re-assaying the 2006 drill program Longshot Ridge drill pulps, duplicate samples, blank samples and standards by an independent ISO 17025 certifiable laboratory to determine proper quality assured copper values for these samples.
•Revise Longshot Ridge resource estimate incorporating the additional information from the re-assayed values of the 2006 drill and systematic road cut samples.
•Apply for permits to drill on and around the Longshot Ridge and adjacent copper oxide targets.
•Apply for permits to drill the Copper Queen and Champion target areas.
•Assess potentials of copper oxide systems similar to the Longshot Ridge at the nearby Power Line and Buffington mine workings.
•Initiate further work on metallurgical testing and environmental base line studies for the Longshot Ridge deposit.
Project Summary

A subsequent PHASE 2 infill & extension drilling to be conducted. Drilling, Assaying, & Project Development.

Immediate Corporate Objectives:
-- Develop a bulk tonnage Copper and Molybendum property in a 5km x 3 km mineralized belt.
-- Aggressive drill program to expand current NI 43-101 resource.
-- Acquisition of neighboring properties with significant resources.
-- Aim to establish a 2 billion lb. copper / molybdenum/gold resource and become a near-term producer.

RIGATONI
Previous DD call with CEO.
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